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Zainab Shokoohi - One of the best experts on this subject based on the ideXlab platform.
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assessing the effect of oil price on world Food Prices application of principal component analysis
Energy Policy, 2011Co-Authors: Abdoulkarim Esmaeili, Zainab ShokoohiAbstract:The objective of this paper is to investigate the co-movement of Food Prices and the macroeconomic index, especially the oil price, by principal component analysis to further understand the influence of the macroeconomic index on Food Prices. We examined the Food Prices of seven major products: eggs, meat, milk, oilseeds, rice, sugar and wheat. The macroeconomic variables studied were crude oil Prices, consumer price indexes, Food production indexes and GDP around the world between 1961 and 2005. We use the Scree test and the proportion of variance method for determining the optimal number of common factors. The correlation coefficient between the extracted principal component and the macroeconomic index varies between 0.87 for the world GDP and 0.36 for the consumer price index. We find the Food production index has the greatest influence on the macroeconomic index and that the oil price index has an influence on the Food production index. Consequently, crude oil Prices have an indirect effect on Food Prices.
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Assessing the effect of oil price on world Food Prices: Application of principal component analysis
Energy Policy, 2011Co-Authors: Abdoulkarim Esmaeili, Zainab ShokoohiAbstract:The objective of this paper is to investigate the co-movement of Food Prices and the macroeconomic index, especially the oil price, by principal component analysis to further understand the influence of the macroeconomic index on Food Prices. We examined the Food Prices of seven major products: eggs, meat, milk, oilseeds, rice, sugar and wheat. The macroeconomic variables studied were crude oil Prices, consumer price indexes, Food production indexes and GDP around the world between 1961 and 2005. We use the Scree test and the proportion of variance method for determining the optimal number of common factors. The correlation coefficient between the extracted principal component and the macroeconomic index varies between 0.87 for the world GDP and 0.36 for the consumer price index. We find the Food production index has the greatest influence on the macroeconomic index and that the oil price index has an influence on the Food production index. Consequently, crude oil Prices have an indirect effect on Food Prices. © 2010 Elsevier Ltd.
Abdoulkarim Esmaeili - One of the best experts on this subject based on the ideXlab platform.
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assessing the effect of oil price on world Food Prices application of principal component analysis
Energy Policy, 2011Co-Authors: Abdoulkarim Esmaeili, Zainab ShokoohiAbstract:The objective of this paper is to investigate the co-movement of Food Prices and the macroeconomic index, especially the oil price, by principal component analysis to further understand the influence of the macroeconomic index on Food Prices. We examined the Food Prices of seven major products: eggs, meat, milk, oilseeds, rice, sugar and wheat. The macroeconomic variables studied were crude oil Prices, consumer price indexes, Food production indexes and GDP around the world between 1961 and 2005. We use the Scree test and the proportion of variance method for determining the optimal number of common factors. The correlation coefficient between the extracted principal component and the macroeconomic index varies between 0.87 for the world GDP and 0.36 for the consumer price index. We find the Food production index has the greatest influence on the macroeconomic index and that the oil price index has an influence on the Food production index. Consequently, crude oil Prices have an indirect effect on Food Prices.
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Assessing the effect of oil price on world Food Prices: Application of principal component analysis
Energy Policy, 2011Co-Authors: Abdoulkarim Esmaeili, Zainab ShokoohiAbstract:The objective of this paper is to investigate the co-movement of Food Prices and the macroeconomic index, especially the oil price, by principal component analysis to further understand the influence of the macroeconomic index on Food Prices. We examined the Food Prices of seven major products: eggs, meat, milk, oilseeds, rice, sugar and wheat. The macroeconomic variables studied were crude oil Prices, consumer price indexes, Food production indexes and GDP around the world between 1961 and 2005. We use the Scree test and the proportion of variance method for determining the optimal number of common factors. The correlation coefficient between the extracted principal component and the macroeconomic index varies between 0.87 for the world GDP and 0.36 for the consumer price index. We find the Food production index has the greatest influence on the macroeconomic index and that the oil price index has an influence on the Food production index. Consequently, crude oil Prices have an indirect effect on Food Prices. © 2010 Elsevier Ltd.
Lutz Kilian - One of the best experts on this subject based on the ideXlab platform.
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do oil price increases cause higher Food Prices
Economic Policy, 2014Co-Authors: Christiane Baumeister, Lutz KilianAbstract:U.S. retail Food price increases in recent years may seem large in nominal terms, but after adjusting for inflation have been quite modest even after the change in U.S. biofuel policies in 2006. In contrast, increases in the real Prices of corn, soybeans, wheat and rice received by U.S. farmers have been more substantial and can be linked in part to increases in the real price of oil. That link, however, appears largely driven by common macroeconomic determinants of the Prices of oil and agricultural commodities rather than the pass-through from higher oil Prices. We show that there is no evidence that corn ethanol mandates have created a tight link between oil and agricultural markets. Rather increases in Food commodity Prices not associated with changes in global real activity appear to reflect a wide range of idiosyncratic shocks ranging from changes in biofuel policies to poor harvests. Increases in agricultural commodity Prices in turn contribute little to U.S. retail Food price increases, because of the small cost share of agricultural products in Food Prices. There is no evidence that oil price shocks have caused more than a negligible increase in retail Food Prices in recent years. Nor is there evidence for the prevailing wisdom that oil-price driven increases in the cost of Food processing, packaging, transportation and distribution are responsible for higher retail Food Prices. Finally, there is no evidence that oil-market specific events or for that matter U.S. biofuel policies help explain the evolution of the real price of rice, which is perhaps the single most important Food commodity for many developing countries.
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Do oil price increases cause higher Food Prices?
Economic Policy, 2014Co-Authors: Christiane Baumeister, Lutz KilianAbstract:US retail Food price increases in recent years may seem large in nominal terms, but after adjusting for inflation have been quite modest even after the change in US biofuel policies in 2006. In contrast, increases in the real Prices of corn, soybeans, wheat and rice received by US farmers have been more substantial and can be linked in part to increases in the real price of oil. That link, however, appears largely driven by common macroeconomic determinants of the Prices of oil and of agricultural commodities rather than the pass-through from higher oil Prices. We show that there is no evidence that corn ethanol mandates have created a tight link between oil and agricultural markets. Moreover, increases in agricultural commodity Prices have contributed little to US retail Food price increases, because of the small cost share of agricultural products in Food Prices. In short, there is no evidence that oil price shocks have been associated with more than a negligible increase in US retail Food Prices in recent years. Nor is there evidence for the prevailing wisdom that oil-price driven increases in the cost of Food processing, packaging, transportation and distribution have been responsible for higher retail Food Prices. Similar results hold for other industrialized countries. There is reason, however, to expect Food commodity Prices to be more tightly linked to retail Food Prices in developing countries. — Christiane Baumeister and Lutz Kilian
Stephan Haggard - One of the best experts on this subject based on the ideXlab platform.
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global Food Prices regime type and urban unrest in the developing world
Journal of Peace Research, 2015Co-Authors: Cullen S Hendrix, Stephan HaggardAbstract:The 2014 IPCC report concludes that changes in precipitation and temperature could cause global Food Prices to nearly double by 2050. Anecdotal evidence of riots during the global Food price spikes of 2007–08 and 2010–11 raises the more general question of whether global Food Prices affect patterns of contentious politics in developing countries. Drawing on a dataset of urban unrest in 55 major cities in 49 Asian and African countries for the period 1961–2010, we find the effect of global Food Prices on protests and rioting is contingent on regime type: democracies are more prone to urban unrest during periods of high Food Prices than autocracies. We show that this is due both to the more permissive political opportunity structure in democratic systems and to systematic differences in Food policy across regimes of different types. Relative to autocracies, democracies pursue policies that are more favorable to the rural sector and less favorable to the cities. The findings have longer-run implications. To the extent that climate change will make many developing countries more dependent on Food imports, and that Prices could rise and be more volatile, we suggest another vector by which climate change may affect political unrest. Our findings highlight the importance of both political institutions and policy choices in mediating global shocks.
Hilary Williamson Hoynes - One of the best experts on this subject based on the ideXlab platform.
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local Food Prices snap purchasing power and child health
Journal of Health Economics, 2019Co-Authors: Erin Todd Bronchetti, Garret Christensen, Hilary Williamson HoynesAbstract:Abstract The Supplemental Nutrition Assistance Program (SNAP, formerly Food stamps) is one of the most important elements of the social safety net. Unlike most other safety net programs, SNAP varies little across states and over time, which creates challenges for quasi-experimental evaluation. Notably, SNAP benefits are fixed across 48 states; but local Food Prices vary, leading to geographic variation in the real value – or purchasing power – of SNAP benefits. In this study, we provide the first estimates that leverage variation in SNAP purchasing power across markets to examine effects of SNAP on child health. We link panel data on regional Food Prices to National Health Interview Survey data and use a fixed effects framework to estimate the relationship between local purchasing power of SNAP and children’s health and health care utilization. We find that lower SNAP purchasing power leads to lower utilization of preventive health care and more days of school missed due to illness. We estimate no effect on parent-reported health status.
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local Food Prices snap purchasing power and child health
National Bureau of Economic Research, 2018Co-Authors: Erin Todd Bronchetti, Garret Christensen, Hilary Williamson HoynesAbstract:The Supplemental Nutrition Assistance Program (SNAP, formerly Food stamps) is one of the most important elements of the social safety net. Unlike most other safety net programs, SNAP varies little across states and over time, which creates challenges for quasi-experimental evaluation. Notably, SNAP benefits are fixed across 48 states; but local Food Prices vary, leading to geographic variation in the real value – or purchasing power – of SNAP benefits. In this study, we provide the first estimates that leverage variation in SNAP purchasing power across markets to examine effects of SNAP on child health. We link panel data on regional Food Prices to National Health Interview Survey data and use a fixed effects framework to estimate the relationship between local purchasing power of SNAP and children’s health and health care utilization. We find that lower SNAP purchasing power leads to lower utilization of preventive health care and more days of school missed due to illness. We find no effect on reported health status.